Kingfisher Mining Ltd (ASX:KFM) has started airborne geophysical surveys to further advance its wholly-owned Gascoyne rare earth elements (REE) and Ashburton copper-gold projects in Western Australia, with work targeted to be completed in mid-October.
The geophysical surveys include 11,900 line kilometres of magnetics and radiometrics across the Mick Well, Kingfisher and Arthur River projects in the Gascoyne as well as 4,400 line kilometres at the Boolaloo Copper-Gold Project in the Ashburton Basin.
Target generation work will begin as soon as the survey results are finalised.
Location of the Gascoyne airborne geophysics survey.
Developing new targets
Kingfisher’s executive director and CEO James Farrell said: “It’s great to have the airborne geophysics survey at our Gascoyne projects underway. Airborne magnetics and radiometrics are an essential tool for targeting REE mineralisation and will allow us to develop new targets across our extensive Gascoyne tenement package.
“We have also engaged the airborne geophysical contractor to extend and infill the existing high-resolution magnetics and radiometrics at our Boolaloo Copper-Gold Project in the Ashburton Basin, with the survey expected to provide valuable information about the extensions of the structures which host mineralisation at Copper Strike, Green Hills and K16.
“We anticipate the surveys to be completed by mid-October with high-priority targeting work for the Gascoyne REE mineralisation to commence immediately.”
Extending strike
The airborne magnetics and radiometrics survey at Gascoyne rare earth elements (REE) projects are designed to delineate thorium (radiometrics) and magnetic responses, known to be associated with REE mineralisation.
High-resolution magnetics data will also assist with the structural interpretation as well as identification of the carbonatite intrusions.
The 11,900 line-kilometre survey will extend the strike length of high-resolution geophysics by 26 kilometres across the 54-kilometre target corridor at Mick Well and Kingfisher. It will also provide the first high-resolution data for the Arthur River Project, where radiometric anomalies can already be seen in the regional geophysics data.
Drilling highlights from Mick Well have included 24 metres at 2,345 parts per million (ppm) total rare earth oxide (TREO) from surface.
Additional surveying
The Boolaloo magnetics and radiometrics survey is designed to extend the existing survey along the 30-kilometre-long copper-gold target corridor.
This copper-gold and base metal project is about 160 kilometres west of Paraburdoo and 35 kilometres southwest of Paulsen's gold mine in the Ashburton region of Western Australia.
Past exploration has established the potential for copper mineralisation, with follow-up diamond and reverse circulation (RC) drilling by Kingfisher extending mineralisation at Copper Strike and Erny Bore and the discovery of new copper and gold mineralisation at the Green Hills Prospect.
2022 exploration
Planned and completed activities for the Gascoyne project this year.
Rewarding loyalty
Kingfisher also reminded shareholders about its Loyalty Option Offer of one option for every five shares held.
The company intends to list the loyalty option on the ASX.